Elevators acquired the largest revenue share in Africa elevator and escalator Market- 6Wresearch-
Elevators acquired the majority market revenue share in Africa elevator and escalator Market in the year 2021 due to rapid rise in urbanization and increase in the population. Additionally, the construction projects such as Petronia City Project in Ghana, Mesob Tower in Ethiopia would grow the market for elevators in Africa. Moreover, elevators also require less space and are used in commercial, residential and industrial spaces. Therefore, the elevators would dominate the market in the years ahead.
According to 6Wresearch Africa elevator and escalator market size is projected to grow at a CAGR of 8.5% during 2022-28. The growth of elevators and escalators in Africa would be driven largely by investments made in infrastructure by African countries. The expansion of hotel chains in Africa and the construction of skyscrapers like the 88 Nairobi in Kenya and the Iconic Tower in Egypt would grow the elevator and escalator market in Africa. Moreover, expanding residential sector and housing projects like the "Cornubia Housing Project" in South Africa and the "Affordable Housing Project" by the Kenyan government would also act as a major catalyst in growth of African elevator and escalator market.
According to, Kartike Tyagi, Research Analyst, 6Wresearch, By Applications, commercial segment would acquire the maximum share on the back of rise of hospitality sector. In the African region 66,265 rooms and 300 hotel projects are planned in the years ahead. Additionally, in Africa six mega residential projects would be established, therefore commercial segment would grow in the years ahead.
According to, Bhavya Manchanda, Research Associate, 6Wresearch, "By Service Types, new installation is anticipated to garner the maximum share owing to various infrastructure projects in Africa such as O West Club in Egypt, Konza Technopolis in Kenya. Therefore, the rise in infrastructure would augment the growth of new installation of elevators and escalators in Africa.
Major players in Africa elevator and escalator market are Otis Elevator Co., Schindler Holding AG, KONE Corporation, Mitsubishi Electric Corporation, TK Elevator, Hyundai Elevator Co. Ltd, Kleemann Hellas S.A., Omega Elevators, FUJITEC Co. Ltd., Hitachi Ltd., EGGEEC (FUJI)
“Africa elevator and escalator Market (2022-2028)” report provides an in-depth analysis with 122 figures and 90 tables, covered in 214 pages. The Africa elevator and escalator market report thoroughly covers market by types, by applications, by services and by countries. Africa elevator and escalator market report provides an unbiased and detailed analysis of the on-going Africa elevator and escalator market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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